That across the two sites:

11 properties are of 2+ bedrooms, where priority of allocation will be given to eligible households with children currently staying in Council-provided temporary accommodation. 

The remaining 7 properties are 1-bedroom homes where priority of allocation will be given to eligible households that include a care experienced young person, with additional preference awarded to those care experienced young people currently occupying Council-provided temporary accommodation.

That, following satisfactory completion of legal due diligence and having secured an appropriate allocation of grant funding from Homes England, the site as set out in Exempt Appendix 1 be acquired; and funded from a combination of Homes England grant, other subsidy and up to £1,334,425 which forms part of the £20m prudential borrowing agreed by Council on 16 May 2025.

1.    that delegated authority be granted to the Director of Finance, in consultation with the Cabinet Member for Housing and Finance, and the Director of Pride in Place, to acquire 14 homes at Site A and 4 homes at Site B, as located in Exempt Appendices 2 and 3 for affordable housing, subject to the satisfactory completion of all due diligence and securing an acceptable allocation of grant funding from Homes England;

2.    that the required long-term borrowing be funded from the £20m prudential borrowing headroom agreed by Full Council in May 2025, and utilise an allocation of internal affordable housing capital funding for each site as proposed in Exempt Appendix 1 to reduce prudential borrowing and deliver a viable scheme overall, with delegation granted to the Director of Finance, in consultation with the Cabinet Member for Housing and Finance to agree the precise mix of internal funding sources from relevant existing approved budgets;

3.    that delegated authority be given to the Head of Strategic Housing and Delivery to seek the maximum amount of grant funding that is considered reasonable and likely from Homes England;

4.    that delegated authority be given to the Head of Strategic Housing and Delivery, in consultation with the Director of Finance, to finalise terms to acquire the developments; and

5.    that delegated authority be given to the Chief Executive, in consultation with the Leader of the Council, to make the final decision as to the split of the properties between those in temporary accommodation and care experienced young people.